REAL ESTATE NEWS

Drawbridge Realty is continuing to make major plays in the office sector this year, with the latest involving the investment firm striking a deal to acquire a 190,000-square-foot office campus, The HIVE in Costa Mesa, California.

Along with the announced acquisition, Drawbridge said that it has landed a long-term lease with defense technology developer, Anduril Industries, Inc., to occupy the entire property. Anduril operates at its nearby 634,000 square foot headquarters campus at The Press, which previously served as the printing facility for the Los Angeles Times Orange County before undergoing redevelopment.

The HIVE, which sits on 14 acres in the Greater Airport submarket, consists of three buildings that stand two stories each. Some amenities at the site include an espresso bar, a fitness center, conference space and workspaces. The site at 3333-3337 South Susan St is in proximity to the John Wayne Airport, South Coast Plaza and Metro Pointe at South Coast.

While Drawbridge did not reveal how much it paid to buy the Class A campus for from Invesco Real Estate, this marks another purchase for the Costa Mesa-based firm this year. So far, the company has acquired $304 million in assets (representing more than 402,000 square feet) in 2025. This includes another office purchase, Block 13, a nine-story property located in Bellevue, Washington, that's leased long-term to Meta. Additionally, Drawbridge, through its national holdings, said it has poured $20 million into capital and tenant improvement projects.

“The HIVE underscores our commitment to investing in high-quality assets backed by strong credit tenants,” said Charlie McEachron, CEO of Drawbridge Realty, said in a statement.

“It is an outstanding property in a premier location, and our ability to secure a lease with a strong tenant aligns with our long-term investment strategy, making it a natural fit for our portfolio.”

Eastdil Secured brokered the deal.

Outside of Greater Airport, which is in Orange County, Drawbridge operates over a dozen assets in other Southern California regions, including San Diego County, Westlake Village and Santa Monica.

Source: GlobeSt/ALM